In comparison to China, it doesn't seem India offers significant incentives to setup manufacturing except tapping into a huge market. What India has started doing right in last few years, China has been doing for more than two decades with no signs of slowing down. If you need a hint about the scale of China's manufacturing capabilities, you should read about the Fidget Spinner Gold Rush [1]. Production literally shot up overnight to cope up with the burgeoning demand. It's impossible to imagine this ever happening in India.
[1]: https://motherboard.vice.com/en_us/article/fidget-spinner-wh...